By Devika Patel
Knoxville, Tenn., April 16 - Teekay LNG Partners LP will sell $50 million of its common units to its subsidiary Teekay LNG Finance Corp., according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The prospectus supplement was for a public offering of 5 million common units, with a greenshoe of up to 750,000 additional common units. The private placement is conditional upon closing of this public offering.
In the private placement, the company will sell 1,700,680 common units to the subsidiary at $29.40 apiece.
Based in Nassau, the Bahamas, Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services.
| Issuer: | Teekay LNG Partners LP
|
| Issue: | Common units
|
| Amount: | $50 million
|
| Units: | 1,700,680
|
| Price: | $29.40
|
| Warrants: | No
|
| Investor: | Teekay LNG Finance Corp
|
| Pricing date: | April 16
|
| Stock symbol: | NYSE: TGP
|
| Stock price: | $29.40 at close April 15
|
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